Germany's economy maintained strong growth momentum at the start of 2018 thanks to the fastest rise in service sector business activity for nearly seven years, according to January's flash PMI survey from IHS Markit. Growth in the manufacturing sector was meanwhile below the record level seen at the end of 2017 but still among the highest seen over the past two decades.

The IHS Markit Flash Germany Composite Output Index registered a reading of 58.8 in January, little-changed from December's 80-month high of 58.9, with the quickest growth of services businesses activity since March 2011 offsetting a slower, but still-strong, increase in goods production.